Tesla, Inc. $TSLA Shares Sold by Capital Impact Advisors LLC

Capital Impact Advisors LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,195 shares of the electric vehicle producer’s stock after selling 1,959 shares during the quarter. Tesla makes up approximately 2.6% of Capital Impact Advisors LLC’s investment portfolio, making the stock its 18th largest position. Capital Impact Advisors LLC’s holdings in Tesla were worth $8,724,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. Tactive Advisors LLC purchased a new stake in Tesla in the 2nd quarter valued at approximately $2,712,000. Geneos Wealth Management Inc. boosted its stake in shares of Tesla by 40.9% in the second quarter. Geneos Wealth Management Inc. now owns 35,650 shares of the electric vehicle producer’s stock valued at $11,325,000 after buying an additional 10,349 shares in the last quarter. V2 Financial group LLC acquired a new position in Tesla during the second quarter worth $223,000. SPG Advisors LLC acquired a new stake in Tesla in the second quarter valued at $735,000. Finally, Wellington Capital Management Inc. purchased a new stake in shares of Tesla during the 2nd quarter worth $379,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 2.7%

Shares of NASDAQ:TSLA opened at $458.96 on Friday. The company has a market capitalization of $1.53 trillion, a P/E ratio of 305.97, a P/E/G ratio of 15.50 and a beta of 1.87. The stock’s fifty day simple moving average is $435.52 and its 200-day simple moving average is $376.29. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Cowen reiterated a “buy” rating on shares of Tesla in a report on Monday, November 17th. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Bank of America upped their price target on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Melius Research set a $520.00 price objective on Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, Benchmark reissued a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $399.33.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the sale, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the transaction, the chief financial officer owned 13,757 shares of the company’s stock, valued at $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 119,457 shares of company stock valued at $52,137,945. Company insiders own 19.90% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.